I've checked various sources and the consensus seems to be that the woman in the photo is Karen Darvin, Springsteen's girlfriend at the time.

According to The Strut:It was November 13th, 1975 and Bob Dylan was in New Haven, CT on his Rolling Thunder Revue tour when Ken Regan snapped this photo. An already quite famous Bruce Springsteen came backstage to meet the man he would later refer to as “the brother I never had” when he inducted Dylan into the Rock and Roll Hall of Fame.